Source Code raises approximately $480m

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Chinese venture capital firm Source Code Capital announced the final close of its third USD fund at $260 million and a first close of its third RMB fund at 1.5 billion yuan.

The USD fund was backed by sovereign wealth funds, U.S. foundations, pensions plans, fund of funds and family offices. The RMB fund attracted domestic investors including national guiding funds, fund of funds, state-owned enterprises and business leaders.